Investors who purchased hundreds of billions of dollars of mortgage bonds issued before the financial crisis will soon find out whether they can proceed with claims that sponsors of these deals misrepresented the quality of the underwriting.

New York’s highest court is expected to rule imminently on whether to reverse a lower court’s decision that would invalidate claims brought against residential mortgage-backed securities (RMBS) sponsors by investors in 2006 and 2007 vintage deals, during the peak of the housing bubble.

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